Here are some important figures from the budget of Cornell, Inc., for the second quarter of 2019:

April May June

Credit sales $ 481,250 $ 501,840 $ 555,032

Credit purchases 186,280 222,320 253,904

Cash disbursements

Wages, taxes, and expenses 50,371 61,091 63,736

Interest 14,450 14,450 14,450

Equipment purchases 105,100 115,360 0

The company predicts that 5 percent of its credit sales will never be collected, 35 percent of its sales will be collected in the month of the sale, and the remaining 60 percent will be collected in the following month. Credit purchases will be paid in the month following the purchase.

In March 2019, credit sales were $266,112 and credit purchases were $197,680. Using this information, complete the following cash budge

Here are some important figures from the budget of Cornell, Inc., for the second quarter of 2019: April May June $481,250 $ 501,840 $555,032 186,280 222,320 253,904 Credit sales Credit purchases Cash disbursements Wages, taxes, and expenses Interest Equipment purchases 50,371 61,091 14,450 105,100 14,450 115,360 63,736 14,450 o The company predicts that 5 percent of its credit sales will never be collected, 35 percent of its sales will be collected in the month of the sale, and the remaining 60 percent will be collected in the following month. Credit purchases will be paid in the month following the purchase. In March 2019, credit sales were $266,112 and credit purchases were $197,680. Using this information, complete the following cash budget. (Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.) May June April 354,800 S Beginning cash balance Cash receipts Cash collections from credit sales Total each with percent of its sales will be collected in the month of the sale, and the remaining 60 percent will be collected in the following month. Credit purchases will be paid in the month following the purchase. In March 2019, credit sales were $266,112 and credit purchases were $197,680. Using this information, complete the following cash budget. (Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.) May June April 354,800 Beginning cash balance Cash receipts Cash collections from credit sales Total cash available Cash disbursements Purchases Wages, taxes, and expenses Interest Equipment purchases Total cash disbursements Ending cash balance